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Notcoin Rises Over 25% Despite Bearish Conditions as New P2E Token PlayDoge Raises $5.5M in ICO

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Notcoin (NOT) is defying gravity in a market that’s currently struggling.

While most cryptos have been seeing red, NOT has surged 27% over the past week, catching the eye of investors.

This rally comes as another player in the crypto gaming space, PlayDoge (PLAY), passes the $5.5 million mark in its ICO phase.

Notcoin’s Impressive Comeback Surprises Investors

Notcoin is making an impressive comeback.

After a rough patch, NOT has bounced back aggressively, now trading around the $0.0169 level.

That’s a 27% jump since last Monday.

And if you zoom in on the action since Friday’s low, we’re looking at an enormous 83% surge.

The weekend was particularly kind to NOT, with the token’s price rallying hard.

Now, it’s eyeing its third consecutive green close – a feat that hasn’t been seen since the last week of May.

But it’s not just Notcoin’s price that’s impressive.

Spot volumes hit $1.1 billion in the past 24 hours, making NOT the 9th most traded crypto.

Notcoin’s market cap also returned to $1.7 billion.

And here’s an exciting thought for bulls: Another 74% price hike would see NOT return to its all-time high from early June.

This looked impossible just a few days ago.

Ultimately, it’s yet another example of how quickly cryptocurrencies’ fortunes can change.

Why is the Crypto Market in the Red?

Notcoin’s rally is even more impressive when you consider the bearishness in the market right now.

While NOT has been surging, most other cryptos have been seeing red.

The overall market’s taken a beating, mainly due to a triple whammy of economic uncertainties, ETF outflows, and some unexpected moves in Germany.

Investors are on edge, with US inflation concerns and interest rate jitters keeping everyone on their toes.

Adding to investors’ worries, spot Bitcoin ETFs have seen more outflows.

It seems like traders are playing it safe and reducing their exposure to BTC.

And on top of all that, Germany has been offloading some of its Bitcoin stash.

Over the weekend, addresses linked to German authorities sent just over $40 million to another address.

Blockchain sleuths speculate that this could be a sign the government is preparing to sell its BTC holdings.

Yet, despite all this doom and gloom, Notcoin has been thriving.

It’s a reminder that in the crypto market, sometimes the unexpected can happen.

Is This the Next Notcoin? PlayDoge ICO Hits $5.5M as Excitement Builds Over Nostalgic P2E Game

Speaking of projects bucking the trend, let’s talk about PlayDoge.

Despite the market’s gloomy outlook, this newcomer has been making moves in its ICO phase, raising over $5.5 million.

PlayDoge’s creators are tapping into the nostalgia factor with its retro-style P2E game.

This game allows players to care for a virtual pet, much like the Tamagotchis of the ‘90s.

But instead of just satisfaction, players will earn real crypto rewards.

These rewards are distributed in PLAY – PlayDoge’s native BEP-20 token.

On top of the P2E gameplay, PlayDoge offers staking opportunities, with annual yields estimated at 104%.

So, a player could theoretically compound their earnings by playing the PlayDoge game and then staking their PLAY tokens.

It’s a clever way to keep players engaged and invested in the ecosystem.

What’s intriguing about both Notcoin and PlayDoge is their ability to generate excitement in a market that’s experiencing a downturn.

They’re proving that projects with strong communities can still thrive even in bearish conditions.

PlayDoge certainly has that – more than 9,400 people are active on the official Telegram channel.

Of course, since PlayDoge is not yet available on the open market, it’s impossible to know how it will perform once trading begins.

But if the early hype is any indication, PlayDoge is in line for an exciting debut.

Visit PlayDoge Presale

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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Cryptocurrency

Ripple v. SEC Lawsuit: Rumors Suggest Next Potential Chairman of the Regulator Will be Pro-Crypto

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TL;DR

  • Trump’s pledge to replace SEC Chair Gensler with a pro-crypto leader has sparked excitement across the community.
  • Legal experts believe such changes could lead to a faster resolution of the Ripple v. SEC case.

Gensler’s Possible Successor

Donald Trump’s victory in the US presidential elections triggered a massive bull run for the cryptocurrency sector due to his shift from a previously skeptical view to a supportive stance on the asset class. During his campaign, the Republican pledged to make America “the crypto capital of the planet” and proposed creating a strategic BTC reserve.

He also expressed the intention to fire the SEC’s Chairman Gary Gensler on day 1, a promise which triggered huge enthusiasm among the XRP Army. To the uninitiated ones, the Commission and its head have been at war with numerous crypto companies, including Ripple.

Crypto X has been speculating whether the newly-elected president will stick to his promise and wondering who might replace Gensler at the helm of the securities regulator. Eleanor Terrett (a popular journalist at Fox Business) recently claimed she discussed the matter with “a person close to the Trump transition team,” who assured her that the successor “will be someone pro-crypto.”

A new SEC Chairman who is more open to innovation and less inclined to hamper the crypto industry’s advancement by constant legal battles is considered good news not only for those invested in XRP but the entire digital asset market.

The Potential Effect on the Case

Last week, Fred Rispoli (a US attorney who has been following the updates surrounding the Ripple v. SEC lawsuit) argued that the election of Trump could lead to “extreme changes” at the watchdog.

He claimed that the $125 million penalty, which Federal Judge Torres ordered Ripple to pay for violating certain securities laws, is the biggest win the agency can gain. Rispoli also thinks that the SEC’s new potential leadership will “recognize this whole case was idiotic and settle at that point.”

“This might include a reduction in the fine and an agreement that current sales of XRP by Ripple are sufficiently structured to not be investment contracts, he added.

The American lawyer Jeremy Hogan chipped in, too. He went even further, forecasting that the new leader of the SEC may dismiss all non-fraud crypto lawsuits filed over the years. Similar to Rispoli, Hogan believes the case could be officially settled for the amount of $125 million:

“It would be…awkward to settle for less than what was already awarded by a Court! The Coinbase and other cases in litigation will simply be dismissed. This will take some time. Not January, but perhaps before summer. That’s my call, and I’m sticking to it.”

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After XRP, Dogecoin Overtakes USDC to Become 6th-Largest Crypto by Market Cap

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Dogecoin (DOGE) is on a roll. The OG meme coin crossed the $0.25 mark on November 10, 2024, for the first time in three years, then added another 25% in the last 24 hours to reach $0.28. Meanwhile, its market cap surged to a three-year high and is currently hovering near $42 billion.

As a result, Dogecoin flipped XRP and the USDC stablecoin to become the sixth-largest crypto asset by market cap.

Bold Predictions For Dogecoin

Experts suggest that the token may be primed for more accelerated gains. Crypto analyst under the pseudonym ‘Mikybull Crypto’ said that Dogecoin has just experienced a “golden cross” on its weekly chart, a bullish technical signal that last appeared in Q4 2020 before a massive price rally.

With the current golden cross, the analyst suggests that the asset may once again be poised for a significant upward trend. Based on Fibonacci extension levels, price targets between $2 and $4 appear achievable in this cycle, sparking optimism for a repeat of its historic growth trajectory.

Drawing from historical price patterns, another popular crypto analyst, Ali Martinez, said that Dogecoin’s potential peak may align between the Fibonacci retracement levels of 1.618 and 2.272. If this analysis holds, it places the meme coin’s possible top in the range of $3.95 to $23.26 – a massive leap from its current price levels.

Meanwhile, another bold prediction suggests that Dogecoin could hit $30 by March 2025.

What’s Behind The Hype?

This surge can be attributed to Elon Musk, CEO of Tesla and SpaceX, who has been vocal in his support of Donald Trump, now President-elect, and even joined him on the campaign trail. Musk hinted at a possible role as the head of a proposed Department of Government Efficiency (D.O.G.E.). This was enough to stir humorous speculation that Musk might bring Dogecoin into the Treasury.

Following Trump’s victory and his pledges to support the crypto industry, the prices of several dog-themed assets have rallied over the past week. This includes Shiba Inu (SHIB), which moved up in market cap rankings to become one of the largest cryptocurrencies, surpassing Tron (TRX) and Toncoin (TON) along the way.

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Cardano’s (ADA) Price Rally, Bitcoin’s (BTC) Fresh ATH, and More: Bits Recap Nov 11

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TL;DR

  • Bitcoin (BTC) hit nearly $82,000, now being the 9th-largest global asset in terms of market cap.
  • Cardano’s (ADA) price rose 76%, driven by founder Charles Hoskinson’s latest announcements.
  • Ethereum (ETH) gained 28% in the last week, with analysts eyeing a breakout past $3,200.

BTC Keeps Pumping

The past several days (ever since Donald Trump’s US presidential win) have been highly successful for the cryptocurrency market. The 47th President of America made numerous BTC-related promises during his campaign, and somewhat expected, Bitcoin has been at the forefront of gains lately.

Earlier today (November 11), its price hit a new peak of almost $82,000, while its market capitalization exceeded the staggering $1.6 trillion. This makes BTC the ninth-biggest asset in the world, surpassing well-known names like Meta (formerly known as Facebook), Tesla, and others.

BTC Price
BTC Price, Source: CoinGecko

Crypto X is full of analysts envisioning further gains for the asset. The one using the moniker Checkmate suggested that BTC has entered the so-called “Euphoria zone, convincingly breaking through the previous cycles’ ATH.” 

He also noted that the price record coincided with “a relatively cooled down MVRV ratio.” According to CryptoQuant’s data, the Market Value to Realized Value has been hovering around an index of 2.

Readings below that level indicate that the asset is in a neutral or undervalued zone, suggesting more room for price growth. On the other hand, anything above 2 signals a possible pullback in the short term due to potential profit-taking from investors.

ADA in the Spotlight

Cardano (ADA) has charted an even more substantial price increase than BTC in the past week. It currently trades at just south of $0.60, representing a whopping 76% surge for the aforementioned period.

ADA Price
ADA Price, Source: CoinGecko

It is worth mentioning that its real bull run started on November 10, shortly after Cardano’s founder Charles Hoskinson published a 40-minute long video on X. He touched upon numerous topics, including the incoming administration of the newly-elected President Trump.

Hoskinson announced plans to dedicate significant time next year to collaborating with US policymakers to help create a more thorough and potentially supportive regulatory framework for the cryptocurrency industry.

“The crypto policy should be written by the American people, by the American crypto industry, and by well-meaning lawmakers who are willing to take the time to listen.”

What About ETH?

The second-largest cryptocurrency in terms of market cap was reluctant to join the bull run shortly after Trump’s victory.

However, in the past several days, it recorded a substantial increase, with its price briefly exceeding $3,200. As of the moment, it trades at around $3,100 (per CoinGecko’s data), which is a 28% spike on a weekly scale but still far away from the all-time high of over $4,800 witnessed in November 2021. 

ETH Price
ETH Price, Source: CoinGecko

Multiple analysts noted ETH’s revival, predicting a much more impressive rally in the near future. X user Michael van de Poppe expects the valuation to “have some resistance” at around $3,200, envisioning a pump once it surpasses it. He also believes the Ethereum ecosystem will “heavily outperform in the coming period.”

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